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PhosAgro Reports that Apatit Plant Operations Continue Uninterrupted

2 June 2014
Moscow – PhosAgro ("the Company") (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, reports that operations at its subsidiary OJSC Apatit are continuing uninterrupted, despite the crash on 31 May 2014 of a Mi-8 helicopter with management of OJSC Apatit on board.

Vladimir Davydenko has been appointed as acting director of the Kirov branch of CJSC PhosAgro AG and acting CEO of OJSC Apatit.  Mr. Davydenko has worked in PhosAgro companies for over 10 years and is well acquainted with both OJSC Apatit and PhosAgro as a whole. Prior to this appointment, Vladimir Davydenko served as first deputy director of the Kirov branch of CJSC PhosAgro AG and deputy CEO of OJSC Apatit.

The purpose of the flight had been to review progress being made on a joint project with the regional government to develop the Murmansk region tourism cluster, including eco-tourism sites.

According to the latest information available to PhosAgro, it is believed that there were 18 people on board the Mi-8 AMT RA helicopter (operated by Sparkavia) when it crashed, including employees of OJSC Apatit and its subsidiaries, as well as employees of the regional government and four crew members. The Russian Ministry of Emergency Situations is providing regular updates on the status of the on-going search and rescue operation.

PhosAgro CEO Andrey Guryev said: “This is a horrible tragedy and I express my deepest condolences for the families of the victims of this accident, many of whom I know personally and as colleagues.”  He added that the Company is grateful to the employees of OJSC Apatit, who have enabled the plant to continue its normal operations.